I wonder what China’s neighbors think about its boundless growth – the implication of being tethered into Beijing’s widening orbit. The answer: uneasy.
Firms in Thailand, Vietnam, Indonesia, even India, are having a tough time competing with China (never mind bygone Western manufacturers). From conversations with business men in Hong Kong and Thai businessmen heading back to Bangkok, everyone, including the Americans, share a frustration with the undervalued renminbi because it makes Chinese goods cheaper to the Walmart’s of the world and hurts domestic exports.
As I write, the airport screen is reporting that Vietnam is devaluing its currency by 5 percent, to compete with China. Hanoi’s travel budget just increased.
The Chinese military is seeking to project naval power well beyond the Chinese coast, from the oil ports of the Middle East to the shipping lanes of the Pacific, where the United States Navy has long reigned as the dominant force, military officials and analysts say.
New Delhi firms are filing unfair-trade complaints with the Association of Southeast Asian Nations, similar to NAFTA, and we’re talking mighty, fast-developing India.The Asia Tigers are becoming the Asian Tiger. America is less of a concern so long as it keeps buying, goes the rational, but “their manufacturing is toast,” said a Beijing business man, with an hint of spite.
It’s taking a lot in order to grow itself into a first world society. It’s frustrating legions of businesses outside its borders. When will it step up responsibility commensurate with its prosperity? When will it help patrol shipping lanes, or offer financial assistance to its neighbors, and be a global arbiter that befits a superpower?
How will China, a historically insular and to-itself civilization, act in the region, and on the global stage? China’s neighbor’s are not the only uneasy observers.
Last fall, during a speech in Washington, Lee Kuan Yew, the former Singaporean leader, reflected widespread anxieties when he noted China’s naval rise and urged the United States to maintain its regional presence. “U.S. core interest requires that it remains the superior power on the Pacific,” he said. “To give up this position would diminish America’s role throughout the world.”